HYDERABAD:Presenting the state Budget 2024-25 in the Telangana Assembly on Thursday, Finance Minister Mallu Bhatti Vikramarka proposed a substantial ₹2,762 crore allocation for the Industries & Commerce (I&C) department. This represents a dramatic increase from the revised estimates of ₹567 crore for 2023-24, marking a hike of over 350%.
In line with pre-election promises, Vikramarka announced plans to relaunch the Nizam Sugars at Bodhan and Mutyampet, with an allocation of ₹138.63 crore for the project. The minister emphasized that Nizam Sugars Limited, once a pride of Telangana, had been closed due to various issues. Following the current government's intervention, a committee was appointed in January to oversee its restoration.
Earlier this year, the government had released ₹43 crore as a one-time settlement to assist in reopening closed sugar factories across the state, after discussions with bankers to clear outstanding dues. Chief Minister A. Revanth Reddy had committed to the reopening of these factories by September 17.
The budget also highlights a strong focus on the handloom sector. Vikramarka stated that the government is taking measures to revitalize the sector by mandating the procurement of items such as school uniforms and hospital bedsheets from local weavers through the Telangana Handloom Cooperative Society.
Additionally, the Finance Minister mentioned that the Indian Institute of Handloom Technology (IIHT) established by the government seven years ago is now in progress, with ongoing discussions with the Union government. Plans are also underway to set up a Centre of Excellence for Technical Textiles in the state.